Bharti Airtel Elliott Wave Analysis, trendlines and targets
Updated
Seems Bharti Airtel is running in wave ((iii)) of wave (v), where wave ((i)) has been roughly length of ~240 so with wave ((ii)) low of ~1370 at ~1680 can be the conservative target for wave ((iii)) and with that ~1777 for entire wave (v).
It is difficult to catch the top and above targets are moderate to conservative but overall the script looks very bullish and until the support line is not broken on 2 day closing basis (shown in orange) then this stock is buy on dips for said targets.
With the closure of wave (v) there will be a correction phase in the form of wave 4 and then there has to be wave 5 to again take the stock higher but that will come into picture post wave (v) is completed. So longer timeframe say 2-3 years it seems to be in uptrend only (with one major dip in the form of wave 4 ) hence good from investment perspective too.
*** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
It is difficult to catch the top and above targets are moderate to conservative but overall the script looks very bullish and until the support line is not broken on 2 day closing basis (shown in orange) then this stock is buy on dips for said targets.
With the closure of wave (v) there will be a correction phase in the form of wave 4 and then there has to be wave 5 to again take the stock higher but that will come into picture post wave (v) is completed. So longer timeframe say 2-3 years it seems to be in uptrend only (with one major dip in the form of wave 4 ) hence good from investment perspective too.
*** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
Trade closed manually
There is latest one on Bharti, closing this one.
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